American billionaires got $434B richer during the pandemic
cnbc.com
cnbc.com
Amazon and FB both hit All Time Highs post-lockdown. Others are either near ATH or surpassed it as well.
The stock market != the economy.
Billionaires have become wealthier during whatever timeframe you want to pick pre and post Covid if their company’s stock is higher now in what is supposed to be a major economic shock than before.
You again claim that the stock market = the economic in your comment. Which isn't true.
And we have an unprecedented government bailout. Cash payments plus massive increase in unemployment benefits. Someone losing their job today is not hurt as badly as someone losing their job in 1929 or 2008. We're taking on a lot of debt that will have to at one point or another be paid back. Either by inflating our way out of it, which hurts the bankers that make loans to the very indebted median american. Or by collecting taxes, which would put the burden on people that pay positive effective tax rates and couldn't really be imposed on people that currently net recieved money from the federal government. Or by austerity measures, which are politically unlikely and would still wipe away a good bit of market cap from these big companies. Paper money isn't real money.